Please help me. Thankyou. Compute the rate charged per hour of labor.Labor rate $GAHper hour Second Chance Welding rebuilds spot welders for manufacturers. The following budgeted cost data for 2020 is available for SecondChance.Technicians' wages and benefitsParts manager's salary and BenefitsOffice employee's salary and benefitsOther overheadTotal budgeted costsTimeCharges$260,70055,30015,800$331,800MaterialLoadingCharges$40,30010,66029,120$80,080The company desires a $38 profit margin per hour of labor and a 24.00% profit margin on parts. It has budgeted for 7,900 hours ofrepair time in the coming year, and estimates that the total invoice cost of parts and materials in 2020 will be $416,000.

Labour rates are used to calculate both the price of employee time invoiced to customers and the…

Answered: Chance. as spot wel ers for…

Chance. as spot wel ers for manufacturers. The following budgeted cost data for 2020 is available for Second Technicians' wages and benefits Time Charges $260,700 Material Loading Charges

Managerial Accounting: The Cornerstone of Business Decision-Making

7th Edition

ISBN:9781337115773

Author:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Publisher:Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger

Chapter3: Cost Behavior And Cost Forecasting

Section: Chapter Questions

Problem 20BEA: Using Regression to Calculate Fixed Cost, Calculate the Variable Rate, Construct a Cost Formula, and...

See similar textbooks

Similar questions

Indigo Welding rebuilds spot welders for manufacturers. The following budgeted cost data for 2025 is available for Indigo tab Technicians' wages and benefits Parts manager's salary and benefits Office employee's salary and benefits Other overhead Total budgeted costs caps lock (a) Your answer is correct. Labor rate esc Compute the rate charged per hour of labor. ! 1 Q The company desires a $40 profit margin per hour of labor and a 28% profit margin on parts. It has budgeted for 7,400 hours of repair time in the coming year, and estimates that the total invoice cost of parts and materials in 2025 will be $416,000. A $ 22 N Ne @ 2 * W $251,600 S Time Charges $318,200 83 @ * # 3 59,200 X 7,400 26 per hour 80 E D A GA $ 4 Material Loading Charges $40,700 20,800 $73,320 11,820 888 C R ar do % 5 F T V 6 G Y & VI A 7 B H U 8 J N ( M
Carla Vista Remanufacturing rebuilds spot welders for manufacturers. The following budgeted cost data for 2022 are available for Carla Vista: Technicians' wages and benefits Parts manager's salary and benefits Office employee's salary and benefits Other overhead Total budgeted costs (a) Rate charged $ Time Charges Material Loading Charges $245,830 Calculate the rate charged per hour of labour. eTextbook and Media Save for Later 47,580 31,720 $325,130 The company wants a $30 profit margin per hour of labour and a 25% profit margin on parts. It has budgeted for 7,930 hours of repair time in the coming year and estimates that the total invoice cost of parts and materials in 2022 will be $388,000. $36,860 16,490 per hour 25,220 $78,570 Attempts: 0 of 2 used Submit Answer
Kobe, Inc. had the following information relating to 2020. Budgeted factory overhead ₱ 74,800 Actual factory overhead ₱ 78,300 Applied factory overhead ₱ 76,500 Estimated labor hours 44,000 If Kobe decides to use the actual results from 2020 to determine the 2021 overhead rate, what will the 2021 overhead rate be? Show solution Group of answer choices ₱1.779 ₱1.740 ₱1.650 ₱1.738
Sandhill Remanufacturing rebuilds spot welders for manufacturers. The following budgeted cost data for 2022 are available for Sandhill: Technicians' wages and benefits Parts manager's salary and benefits Office employee's salary and benefits Other overhead Total budgeted costs (a) Your answer is correct. Time Charges Material Loading Charges Rate charged $192.240 $ 56,960 28,480 $277,680 The company wants a $40 profit margin per hour of labour and a 20% profit margin on parts. It has budgeted for 7.120 hours of repair time in the coming year and estimates that the total invoice cost of parts and materials in 2022 will be $366,000. Calculate the rate charged per hour of labour. $40,260 11,895 79 per hour 18,300 $70,455
Blue Spruce Welding rebuilds spot welders for manufacturers. The following budgeted cost data for 2022 is available for Blue Spruce. Technicians' wages and benefits Parts manager's salary and benefits Office employee's salary and benefits Other overhead (a) Total budgeted costs Compute the rate charged per hour of labor. Time Charges $202,800 Labor rate $ 39,000 7,800 $249,600 The company desires a $39 profit margin per hour of labor and a 28% profit margin on parts. It has budgeted for 7,800 hours of repair time in the coming year, and estimates that the total invoice cost of parts and materials in 2022 will be $416,000. Material Loading Charges per hour $39,300 14,780 29,120 $83,200
Sutton’s Electronic Repair Shop has budgeted the following time and material for 2020. SUTTON’S ELECTRONIC REPAIR SHOPBudgeted Costs for the Year 2020 Time Charges Material Loading Charges Shop employees’ wages and benefits $118,800 ― Parts manager’s salary and benefits ― $25,400 Office employee’s salary and benefits 20,520 13,990 Overhead (supplies, depreciation, advertising, utilities) 28,080 20,200 Total budgeted costs $167,400 $59,590 Sutton’s budgets 5,400 hours of repair time in 2020 and will bill a profit of $14 per labor hour along with a 21% profit markup on the invoice cost of parts. The estimated invoice cost for parts to be used is $101,000.On January 5, 2020, Sutton’s is asked to submit a price estimate to fix a 72-inch flat-screen TV. Sutton’s estimates that this job will consume 9 hours of labor and $300 in parts. Calculate the time-and-material price quotation for fixing the…
Sutton’s Electronic Repair Shop has budgeted the following time and material for 2020. SUTTON’S ELECTRONIC REPAIR SHOPBudgeted Costs for the Year 2020 Time Charges Material Loading Charges Shop employees’ wages and benefits $118,800 ― Parts manager’s salary and benefits ― $25,400 Office employee’s salary and benefits 20,520 13,990 Overhead (supplies, depreciation, advertising, utilities) 28,080 20,200 Total budgeted costs $167,400 $59,590 Sutton’s budgets 5,400 hours of repair time in 2020 and will bill a profit of $14 per labor hour along with a 21% profit markup on the invoice cost of parts. The estimated invoice cost for parts to be used is $101,000.On January 5, 2020, Sutton’s is asked to submit a price estimate to fix a 72-inch flat-screen TV. Sutton’s estimates that this job will consume 9 hours of labor and $300 in parts. (a) Compute the labor…
Sutton’s Electronic Repair Shop has budgeted the following time and material for 2020. SUTTON’S ELECTRONIC REPAIR SHOPBudgeted Costs for the Year 2020 Time Charges Material Loading Charges Shop employees’ wages and benefits $118,800 ― Parts manager’s salary and benefits ― $25,400 Office employee’s salary and benefits 20,520 13,990 Overhead (supplies, depreciation, advertising, utilities) 28,080 20,200 Total budgeted costs $167,400 $59,590 Sutton’s budgets 5,400 hours of repair time in 2020 and will bill a profit of $14 per labor hour along with a 21% profit markup on the invoice cost of parts. The estimated invoice cost for parts to be used is $101,000.On January 5, 2020, Sutton’s is asked to submit a price estimate to fix a 72-inch flat-screen TV. Sutton’s estimates that this job will consume 9 hours of labor and $300 in parts. Compute the material loading charge percentage for Sutton’s Electronic…
The controller of the Stump Company is preparing the budget for 2021 and needs to estimate a cost function for delivery costs. Information regarding delivery costs incurred in the prior 2 months are: LOADING... (Click the icon to view the information.) Requirements 1. Estimate the cost function for delivery. 2. Can the constant in the cost function be used as an estimate of fixed delivery cost per month? Explain. Requirement 1. Estimate the cost function for delivery. Delivery costs = + ( × ) Delivery costs = + ( × ) Requirement 2. Can the constant in the cost function be used as an estimate of fixed delivery cost per month? Explain. The cost function in requirement 1 is an estimate of how costs behave ▼ outside of within the relevant range, not at cost levels ▼ outside within the relevant range. If there are no months with zero miles driven represented in the delivery cost…
Vaughn Manufacturing has the following budgeted costs for the next year: Shop employees' wages and benefits Parts manager's salary and benefits Office employee's salary and benefits Other overhead Invoice cost of parts and materials Total budgeted costs Time Charges O. $42. O $47. O $54. O $44. $125000 25000 15000 $165000 Material Charges $ 50000 20000 55000 450000 $575000 The labor rate to be used next year assuming 7500 hours of repair time and a profit margin of $25 per labor hour is >
Howard Cooper, the president of Campbell Computer Services, needs your help. He wonders about the potential effects on the firm's net income if he changes the service rate that the firm charges its customers. The following basic data pertain to fiscal Year 3. Standard rate and variable costs Service rate per hour $ 85.00 Labor cost 37.00 Overhead cost 7.10 Selling, general, and administrative cost Expected fixed costs Facility maintenance Selling, general, and administrative 3.80 $522,000 142,000 Required: a. Prepare the pro forma income statement that would appear in the master budget if the firm expects to provide 45,000 hours of services in Year 3. b. A marketing consultant suggests to Mr. Cooper that the service rate may affect the number of service hours that the firm can achieve. According to the consultant's analysis, if Campbell charges customers $80 per hour, the firm can achieve 50,000 hours of services. Prepare a flexible budget using the consultant's assumption. c. The same…
Oriole Remanufacturing rebuilds spot welders for manufacturers. The following budgeted cost data for 2022 are available for Oriole: Time Charges Material Loading Charges Technicians' wages and benefits $260,700 Parts manager's salary and benefits $36,960 Office employee's salary and benefits 63,200 16,720 Other overhead 23,700 25,520 Total budgeted costs $347,600 $79,200 The company wants a $35 profit margin per hour of labour and a 30% profit margin on parts. It has budgeted for 7,900 hours of repair time in the coming year and estimates that the total invoice cost of parts and materials in 2022 will be $352,000. (a) Your answer is correct. Calculate the rate charged per hour of labour. Rate charged eTextbook and Media 79 per hour Attempts: 1 of 2 used (b) Calculate the material loading percentage. (Round answer to 3 decimal places, e.g. 15.251%.) Material loading percentage eTextbook and Media Save for Later % Attempts: 0 of 2 used Submit Answer